Instead of Energy and Jobs, Ill. Rep. Bill Foster's Failed Stimulus Gave Us Record Gas Prices and More Debt

From the National Republican Congressional Committee (NRCC)…

Illinois Democrat’s Stimulus Spending Spree Continues to Cost More While Gas Prices Soar and Job Creation Languishes

WASHINGTON — Bill Foster and his fellow Democrats promised that spending over $800 billion on their stimulus spending spree (Roll Call #70, 2/13/09) would be a cure-all by creating jobs and energy independence in exchange for its record-shattering price tag for taxpayers. Three years and nearly a trillion dollars later, American families and small businesses are facing energy prices that are twice as high and a continuing stagnant economy. And Foster’s spending spree still isn’t over according to new Treasury reports, which calculated that his failed stimulus would cost another $20 billion than previously thought.

“It’s clear three years later that Bill Foster’s stimulus has failed to create the jobs and energy independence that were promised in exchange for the enormous bill to taxpayers and future generations,” said NRCC Communications Director Paul Lindsay. “Amazingly, Foster’s spending spree is still growing, costing taxpayers yet another $20 billion in March, long after the Democrats’ promises of unemployment below eight percent and the Solyndra bankruptcy.”

The record-breaking stimulus spending spree was supposed to create jobs and energy independence, but its big-government approach was flawed from the start:

“Meant to create jobs and cut reliance on foreign oil, Obama’s green-technology program was infused with politics at every level, The Washington Post found in an analysis of thousands of memos, company records and internal e-mails. Political considerations were raised repeatedly by company investors, Energy Department bureaucrats and White House officials…” (Joe Stephens and Carol D. Leonnig, “Solyndra: Politics Infused Obama Energy Programs,” The Washington Post, 12/25/11)

Long after well documented failures like the Solyndra bankruptcy and the broken promise of sub-eight percent unemployment, the stimulus’ price tag is still growing:

“The U.S. government spent more in March than it had in any prior month on record. … Outlays also increased by about $20 billion, compared to March 2011, due to a non-cash accounting re-estimate for the cost of economic stimulus programs, the official said.” (Eric Morath, “March 2012 Outlays Highest Monthly Spending Ever – US Treasury,” Dow Jones Newswires, 4/11/12)

www.nrcc.org

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